CelloMom On Cars on Nostr: "Global warming injects increasing uncertainty into #HomeOwnership as a basis for ...
"Global warming injects increasing uncertainty into #HomeOwnership as a basis for local government finance.
Property destruction [and] outmigration will undercut property tax revenue. Declining tax revenue also raises the costs of borrowing, so localities will struggle to make major infrastructure investments, including for climate rebuilding, mitigation, and adaptation.
As climate change reduces property values, these pressures can easily become a downward spiral."
https://www.brookings.edu/articles/climate-change-demands-a-long-overdue-reform-of-the-property-tax-system/
Property destruction [and] outmigration will undercut property tax revenue. Declining tax revenue also raises the costs of borrowing, so localities will struggle to make major infrastructure investments, including for climate rebuilding, mitigation, and adaptation.
As climate change reduces property values, these pressures can easily become a downward spiral."
https://www.brookings.edu/articles/climate-change-demands-a-long-overdue-reform-of-the-property-tax-system/